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Biogen Inc. shares declined 0.6% in premarket trade Wednesday after the company said its therapy failed to meet primary and secondary efficacy endpoints in a phase 2b trial for acute ischemic stroke. More detailed results from the trial will be made public in a future scientific forum, the company said. The results do not affect the therapy's currently-approved indications, such as multiple sclerosis, Biogen said. The company did not say if it would continue developing natalizumab, though it did say it plans to study another compound, BIIB093, in large hemispheric infarction mid-year. Biogen shares have surged 6.2% over the last three months, compared with a 4% rise in the S&P 500 and a 5.8% rise in the Dow Jones Industrial Average .

Feb. 7, 2018 at 7:40 a.m. ET

by Emma Court

Biogen stock declines 0.6%

Biogen stock declines 0.6%

Feb. 7, 2018 at 7:34 a.m. ET

by Emma Court

Biogen says phase 2b stroke trial failed

Health care stocks fell in premarket trade Tuesday, setting the sector up for its second consecutive day of declines amid widespread market weakness. The Health Care Select Sector SPDR fell 2.2%, led by a nearly 6% stock drop for Anthem Inc. , a 3.3% decline for Danaher Corp. , a 3.5% decline for Becton, Dickinson and Company and a 3.1% drop for Biogen Inc. . In addition to Anthem, rival health insurer UnitedHealth Group Inc.'s shares dropped 2.4% and Humana Inc.'s shares dropped 1.1%. The SPDR S&P Pharmaceutical ETF was neutral in premarket trade and the SPDR S&P Biotech ETF dropped 2.5%, with drugmaker stocks serving among the more active premarket movers, including a 3% decline for AbbVie Inc. , a 2.6% drop for Sage Therapeutics Inc. , a 2% decline for Vertex Pharmaceuticals Inc. , a 2% drop for Teva Pharmaceutical Industries Ltd. and a 1.6% decline for Mylan NV . One exception to the premarket declines was Allergan PLC , which reported fourth-quarter profit and revenue beats early Tuesday along with positive late-stage clinical trial results for its migraine drug. A 4.4% decline on Monday for the Health Care Select Sector SPDR nearly erased the ETF's year-to-date gains, which now come to 0.44%, compared with a 0.9% decline in the S&P 500 and a 1.5% decline in the Dow Jones Industrial Average .

Shares of companies across the health care industry, from health insurers to distributors, pharmacy-benefit managers and drugmakers, dropped in premarket trade on Tuesday after Amazon , Berkshire Hathaway and JPMorgan Chase announced plans for a new company to improve their employees' health care. The news hit pharmacy-benefit managers, pharmacy chains and drug distributors among the hardest, with CVS Health Corp. shares dropping 7.6%, Walgreens Boots Alliance shares dropping 5.7%, Express Scripts Holding Company dropping 4.8% and Cardinal Health Inc. shares dropping 4.3%. Several health insurers' shares also fell significantly, including UnitedHealth Group , which dropped 7.2%, Anthem Inc. , which dropped 7%, as well as Aetna Inc. and Humana Inc. . The moves reflect investor concerns that the Amazon, Berkshire Hathaway and JPMorgan initiative could shake up the status quo, especially given the three companies' large size and influential nature, and the potential interest of other employers in joining them. U.S. health care costs continue to rise year over year despite efforts to curb them, and many experts believe the fault lies with too-high prices. The SPDR S&P Biotech ETF declined 1% in premarket trade, as did the Health Care Select Sector SPDR . Shares of the ETFs have surged 15.5% and 12.3% respectively over the last three months, compared with a 10.9% increase in the S&P 500 and a 13.2% rise in the Dow Jones Industrial Average .

Biogen Inc. shares surged 1.6% in pre-market trade Thursday after the company reported a fourth-quarter revenue beat, upbeat guidance for 2018 and a sales beat for the company's most closely-watched therapy. The company had a loss in the latest quarter of $297 million, or a loss of $1.40 per share, after earnings of $649 million, or $2.99 per share, in the year-earlier period. Adjusted earnings-per-share were $5.26, below the FactSet consensus of $5.46. The latest results include negative impacts from the transition toll tax and re-measurement of net deferred tax assets related to U.S. corporate tax reform, as well as smaller charges relating to a payment to Neurimmune for Alzheimer's disease treatment aducanumab and a charge for assets related to multiple sclerosis drug Zinbryta in Europe. Revenue rose to $3.31 billion from $2.87 billion, compared with the FactSet consensus of $3.08 billion. Sales of Tecfidera, Avonex, Tysabri, Fampyra and biosimilars came in above the FactSet consensus, while sales of Plegridy, Zinbryta and Fumaderm came in below consensus. Sales of the closely-watched spinal muscular atrophy therapy Spinraza came to $363 million, above the FactSet consensus of $323 million. Biogen expects 2018 revenue of $12.7 billion to $13 billion, compared with the FactSet consensus of $12.68 billion, and 2018 adjusted EPS of $24.20 to $25.20, compared with the FactSet consensus of $24.13. Biogen shares have surged 10.1% over the last three months, compared with a nearly 11% rise in the S&P 500 and a 12.5% rise in the Dow Jones Industrial Average .

Sanofi said it would buy hemophilia drugmaker Bioverativ for more than $11.5 billion, as the French drugmaker looks to clinch a big deal while it braces for generic competition for its top-selling product.

Efforts to find treatments for Alzheimer’s disease suffered blows in recent days, but many companies, scientists and investors are still optimistic that they can find a way to treat the memory-robbing disease, which affects roughly 5.5 million Americans.

Mark Hernon, a former regional IT chief at Takeda Pharmaceuticals, will oversee innovative IT tools that help develop treatments for Alzheimer’s, dementia and other neurological diseases, the biotech firm said.

This week has been a wild ride, and stocks were looking for direction based on more inflationary concerns after the import prices were hotter than expected. The bull market is now just three weeks shy of being nine years old. No trend can last forever, but the one that keeps proving to be right is [ ]

Wednesday was a fourth consecutive positive day for the U.S. markets, again with a rocky start just like Tuesday. All three major exchanges showed some love on Valentines Day, each returning over 1% each. Crude oil was feeling the love as well and recovered handily above $60. The S&P 500 sectors were almost entirely positive.

Today's Research Reports on Stocks to Watch: Biogen and Teva Pharmaceutical

Nov. 28, 2017 at 8:05 a.m. ET

on ACCESSWIRE

Biogen Inc.

Biogen, Inc. is a global biotechnology company, which focuses on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders. Its products include AVONEX, PLEGRIDY, TECFIDERA, TYSABRI, and FAMPYRA for multiple sclerosis, ALPROLIX for hemophilia B and ELOCTATE for hemophilia A. The company also collaborates on the development and commercialization of RITUXAN for the treatment of non-Hodgkin's lymphoma, chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA which is approved for the treatment of chronic lymphocytic leukemia. Biogen was founded by Phillip Allen Sharp in 1978 and is headquartered in Cambridge, MA.
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